The following is the full text of a statement issued yesterday by Independent Newspapers plc and Princes Holdings Limited.
There have been statements in Dail Eireann and in the media insinuating that monies contributed by Fitzwilton Rennicks to the Fianna Fail party through Ray Burke in June 1989 were in some way related to the subsequent granting of MMDS licences to Princes Holdings by the then Government in September 1989.
Independent Newspapers and Princes Holdings wish to state categorically that neither they, nor any person or company for or on behalf of Independent Newspapers or Princes Holdings, made any improper payment of any kind to any person or organisation in relation to the granting of these licences.
Yesterday in Dail Eireann John Bruton TD, Leader of Fine Gael, was wrong when he stated that Princes Holdings received 19 out of the 29 MMDS licences issued in September 1989 by the Government to various applicants. Through its wholly owned subsidiary, Independent Wireless Cable Limited, Princes Holdings was awarded only 7 of these licences. Independent Wireless Cable had applied at that time for 14 licences.
Three years later, in 1992, Princes Holdings acquired control of Westward Cable which in 1989 had been awarded 7 licences and of Cork Communications which in 1989 had been awarded 4 licences. In 1989, Princes Holdings had minority shareholdings in both of these companies.
Princes Holdings has since 1992 been a joint venture between Independent Newspapers (50 per cent) and US Telecommunications companies UIH and TCI.